BW LPG (BWLP) signs US$940M deal for eight new Panamax VLGCs

Rhea-AI Filing Summary

BW LPG Limited has signed a contract with Hyundai Heavy Industries to build eight 90’cbm Panamax Very Large Gas Carriers (VLGCs) for a total consideration of about US$940 million, subject to final technical specifications. The vessels are scheduled for sequential delivery from the start of 2029 until the second quarter of 2030, supporting the company’s ongoing fleet renewal program.

BW LPG describes these Panamax newbuildings as its most flexible design, aimed at enhancing commercial and operational flexibility. The company currently owns and operates a fleet of about 50 VLGCs, including over 20 vessels powered by LPG dual-fuel propulsion technology.

Insights

Maritime and capital allocation analyst

BW LPG commits about US$940M to eight new Panamax VLGCs, extending fleet renewal into 2029–2030.

BW LPG is expanding and renewing its fleet by ordering eight 90’cbm Panamax VLGCs from Hyundai Heavy Industries for about US$940 million. Deliveries from early 2029 to Q2 2030 push growth and renewal over a multi-year horizon.

The company highlights these ships as its most flexible design, targeting improved commercial and operational options. This aligns with an existing fleet of about 50 VLGCs, including over 20 LPG dual-fuel vessels, indicating continued focus on efficiency and alternative propulsion within LPG shipping.

The financial impact will depend on payment schedules, charter coverage, and LPG market conditions over the delivery window, which are not detailed here. Subsequent company communications and future filings are likely to clarify financing structure and anticipated employment of these newbuildings.

Key Figures

Newbuilding contract value: about US$940 million Number of new Panamax VLGCs: eight vessels Delivery window: start of 2029 to Q2 2030 +2 more

5 metrics

Newbuilding contract value about US$940 million Total consideration for eight 90’cbm Panamax VLGCs

Number of new Panamax VLGCs eight vessels Contracted with Hyundai Heavy Industries

Delivery window start of 2029 to Q2 2030 Sequential delivery schedule for newbuildings

Existing VLGC fleet size about 50 VLGCs Current BW LPG fleet before new orders

Dual-fuel VLGCs over 20 vessels VLGCs powered by LPG dual-fuel propulsion technology

Key Terms

Very Large Gas Carriers (VLGCs), Panamax, LPG dual-fuel propulsion technology, EU Market Abuse Regulation, +1 more

5 terms

Very Large Gas Carriers (VLGCs) financial

"eight 90’cbm Panamax Very Large Gas Carriers (VLGCs), for a total consideration"

Very large gas carriers (VLGCs) are oceangoing tank ships built to transport large volumes of liquefied petroleum gas (LPG) in refrigerated or pressurized tanks, typically sized to move cargoes between major export and import hubs. For investors, VLGCs matter because their availability and charter rates reflect global fuel supply and demand, influence earnings for shipping companies and energy traders, and act like the big moving trucks of the gas market—their use and cost can directly affect margins and commodity prices.

Panamax technical

"eight 90’cbm Panamax Very Large Gas Carriers (VLGCs), for a total"

Panamax is a classification for cargo ships built to the maximum dimensions that could pass through the original Panama Canal locks. Investors care because ship size affects how goods move, port demand and shipping rates—think of it like a piece of furniture sized to fit through a doorway: if many ships fit the canal, freight flows more smoothly and competition changes, which can influence shipping companies’ revenues and broader trade-dependent businesses.

LPG dual-fuel propulsion technology technical

"including over 20 vessels powered by LPG dual-fuel propulsion technology"

EU Market Abuse Regulation regulatory

"constitutes inside information pursuant to Article 7 of the EU Market Abuse Regulation"

A set of EU-wide rules that prevent cheating in financial markets by banning insider trading, market manipulation, and misleading disclosure; it also requires timely public release of key company information so everyone can play on a level field. For investors, it reduces the risk that prices are driven by secret deals or false signals, making markets fairer and more reliable for deciding when to buy or sell — like referees enforcing fair play in a game.

Norwegian Securities Trading Act regulatory

"subject to the disclosure requirements set out in Section 5-12 of the Norwegian Securities Trading Act"

The Norwegian Securities Trading Act is the national law that sets the rules for buying, selling and offering financial instruments in Norway, including requirements for fair disclosure, market conduct and investor protection. For investors it matters because it helps ensure companies and intermediaries provide accurate information and prevents abusive trading, much like traffic laws make driving safer and predictable so people can trust the market and make informed decisions.

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Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of June, 2026.

Commission File Number: 001-42008

BW LPG Limited

(Translation of registrant’s name into English)

c/o BW LPG Holding Pte Ltd

10 Pasir Panjang Road,

#17-02 Mapletree Business City, Singapore

117438

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒        Form 40-F ☐

DOCUMENTS TO BE FURNISHED AS PART OF THIS FORM 6-K

Exhibit Number		Exhibit Description
99.1		Press release of BW LPG Limited dated May 30, 2026 – BW LPG enters into agreement for eight 90’cbm Panamax newbuildings with Hyundai Heavy Industries

1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	BW LPG Limited
	By:	/s/ Samantha Xu
	Name:	Samantha Xu
	Title:	Chief Financial Officer

Date: June 1, 2026

2

Exhibit 99.1

BW LPG enters into agreement for eight 90’cbm Panamax newbuildings with Hyundai Heavy Industries

Singapore, 30 May 2026

BW LPG Limited (“BW LPG”, the “Company”, OSE ticker code: “BWLPG.OL”), the world’s leading owner and operator of LPG vessels, announces that it has signed a contract for the construction of eight 90’cbm Panamax Very Large Gas Carriers (VLGCs), for a total consideration of about US$940 million, subject to the final technical specifications. The newbuildings are expected to be delivered sequentially from the start of 2029 until the second quarter of 2030.  

“This newbuilding series underpins our ongoing fleet renewal program, supported by strong long-term fundamentals in the LPG market. Furthermore, these Panamax newbuildings represent the most flexible design, enhancing our scale, commercial and operational flexibility,” says BW LPG’s CEO Kristian Sørensen. 

For further information, please contact:

Kristian Sørensen, CEO

Samantha Xu, CFO

investor.relations@bwlpg.com

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, with a fleet of about 50 Very Large Gas Carriers (VLGCs), including over 20 vessels powered by LPG dual-fuel propulsion technology. Building on over five decades of LPG shipping experience, the company is strengthened by an in-house LPG trading division and the commercial expertise to explore investments in value chain assets. Together, these capabilities enable BW LPG to provide trusted and reliable services for sourcing and delivering LPG to customers worldwide. Delivering energy for a better world – more information about BW LPG can be found at www.bwlpg.com.

BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 400 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, and water treatment.

This information constitutes inside information pursuant to Article 7 of the EU Market Abuse Regulation and is subject to the disclosure requirements set out in Section 5-12 of the Norwegian Securities Trading Act. This stock announcement was published by Aline Anliker, Head of Corporate Communications, on 30 May 2026 at 5:40pm CEST.

FAQ

What major agreement did BW LPG (BWLP) disclose in this Form 6-K?

BW LPG signed a contract with Hyundai Heavy Industries to build eight 90’cbm Panamax Very Large Gas Carriers for about US$940 million, expanding and renewing its LPG shipping fleet over the 2029–2030 period.

How much will BW LPG invest in the new Panamax VLGCs?

The company plans total consideration of about US$940 million for eight 90’cbm Panamax Very Large Gas Carriers. This large multi-year capital commitment supports BW LPG’s fleet renewal strategy and reflects confidence in long-term LPG market fundamentals.

When are BW LPG’s eight new Panamax VLGCs scheduled for delivery?

The newbuildings are expected to be delivered sequentially from the start of 2029 until the second quarter of 2030. This staged delivery schedule spreads fleet growth and associated capital deployment over roughly 18 months.

How large is BW LPG’s VLGC fleet before these newbuildings?

BW LPG reports a fleet of about 50 Very Large Gas Carriers, including over 20 vessels powered by LPG dual-fuel propulsion technology. The eight additional Panamax VLGCs will further increase capacity and update the fleet once delivered.

Why does BW LPG describe the new Panamax VLGCs as important to its strategy?

BW LPG states that this newbuilding series underpins its ongoing fleet renewal program and is supported by strong long-term LPG market fundamentals. The Panamax design is described as the company’s most flexible, intended to enhance commercial and operational flexibility.

What regulatory note accompanies BW LPG’s newbuilding announcement?

The company states this information constitutes inside information under Article 7 of the EU Market Abuse Regulation and is subject to disclosure requirements in Section 5-12 of the Norwegian Securities Trading Act, underscoring its regulatory significance for investors.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 PRESS RELEASE OF BW LPG LIMITED DATED MAY 30, 2026 - BW LPG ENTERS INTO AGREEMEN 5.0 KB